Global Prosthetic Heart Valve Market Segmentation, By Type (Transcatheter Heart Valve, Tissue Heart Valve, and Mechanical Heart Valve), Product (Repair Products, Mitral Valve Repair Devices, and Tricuspid Valve Repair Devices), Technology (Biological valve and Decellularized valve) End Use (Hospitals, Ambulatory Surgical Centres, Speciality Clinics, and Others) – Industry Trends and Forecast to 2031
Prosthetic Heart Valve Market Analysis
The prosthetic heart valve market is experiencing steady growth driven by an increasing prevalence of cardiovascular diseases and advancements in cardiac surgery techniques. Prosthetic heart valves are crucial in managing conditions such as valve stenosis and regurgitation, which can severely impair heart function if left untreated. For instance, a 2021 article published by the National Library of Medicine indicated that more than 180,000 heart valve replacement surgeries are conducted each year in the U.S., contributing significantly to the growth of the market for heart valve replacements. Ongoing research and development efforts, coupled with increasing awareness about cardiovascular health and treatment options, are expected to sustain market growth.
Prosthetic Heart Valve Market Size
Global prosthetic heart valve market size was valued at USD 6.96 billion in 2023 and is projected to reach USD 14.69 billion by 2031, with a CAGR of 9.79% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Transcatheter Heart Valve, Tissue Heart Valve, and Mechanical Heart Valve), Product (Repair Products, Mitral Valve Repair Devices, and Tricuspid Valve Repair Devices), Technology (Biological valve and Decellularized valve) End Use (Hospitals, Ambulatory Surgical Centres, Speciality Clinics, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America
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Market Players Covered
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Abbott (U.S.), Medtronic (U.S.), Boston Scientific Corporation (U.S.), Edwards Lifesciences Corporation (U.S.), LivaNova PLC (U.K.), Cryolife, Inc. (U.S.), Lepu Medical Technology (Beijing) Co., Ltd. (China), Braile Biomédica (Brazil), SYMETIS (Switzerland), JenaValve (Germany), Colibri Heart Valve (U.S.), Cardiac Dimensions Inc. (U.S.), Cardiosolutions, Inc. (U.S.), Medtentia AB (Sweden), MitralSolutions, Inc. (U.S.), On-X Life Technologies, Inc. (U.S.), Sadra Medical, Inc. (U.S.), Sorin S.p.A. (Italy), St. Jude Medical, Inc. (U.S.), ValveXchange, Inc. (U.S.)
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Market Opportunities
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Prosthetic Heart Valve Market Definition
A prosthetic heart valve is a synthetic device surgically implanted to replace a damaged or diseased natural heart valve. It serves to restore proper blood flow through the heart, mimicking the function of the original valve. Prosthetic heart valves come in two primary types: mechanical and biological. Prosthetic heart valves play a crucial role in treating heart valve diseases, restoring cardiac function, and improving patients' quality of life.
Prosthetic Heart Valve Market Dynamics
Drivers
- Increasing Prevalence of Cardiovascular Diseases
The increasing prevalence of heart valve disorders such as valve stenosis and regurgitation is a significant driver for the prosthetic heart valve market. Factors contributing to this rise include the global aging population and the prevalence of unhealthy lifestyles leading to conditions like hypertension and obesity. For instance, a 2023 article from the National Center for Biotechnology Information (NCBI) indicated that valvular heart disease affects approximately 2% of the U.S. population, based on estimates from the American Heart Association. As these conditions progress, they often result in the deterioration of heart valves, necessitating surgical intervention. Prosthetic heart valves play a crucial role in managing severe cases where the native valve function is compromised, providing patients with improved quality of life and extended longevity. The growing awareness of cardiovascular health and advancements in diagnostic capabilities further contribute to early detection and treatment, fueling the demand for prosthetic heart valves worldwide.
- Growing Aging Population
The demographic shift towards an older population globally is boosting demand for prosthetic heart valves. As people age, the risk of developing cardiovascular diseases increases, including degenerative conditions affecting heart valves. This demographic trend translates into a larger pool of patients requiring heart valve replacement surgeries to restore proper cardiac function. Prosthetic heart valves offer effective solutions for elderly patients who may not be suitable candidates for other treatments due to age-related health concerns. Moreover, advancements in medical care and improved life expectancy drive the need for durable and reliable prosthetic heart valve options.
Opportunities
- Development of Transcatheter Heart Valves
The development of transcatheter heart valve technologies represents a significant advancement in cardiac care, offering less invasive alternatives to traditional surgical valve replacement. These minimally invasive procedures allow for the replacement of diseased heart valves without open-heart surgery, reducing recovery times, complications, and hospital stays. Transcatheter heart valves are particularly beneficial for high-risk patients who may not tolerate traditional surgery well. This technological innovation expands treatment options and improves accessibility to valve replacement therapies for a broader patient population. Continued research and development in transcatheter valve technologies are expected to create new opportunities for market growth and innovation in cardiac surgery.
- Technological Advancements in Cardiac Surgery
Technological advancements in cardiac surgery have revolutionized the treatment landscape for heart valve disorders by enhancing surgical techniques and prosthetic valve materials. Minimally invasive approaches, such as transcatheter valve replacement and robotic-assisted surgery, have significantly improved patient outcomes compared to traditional open-heart procedures. These techniques involve smaller incisions, reduced trauma to surrounding tissues, and shorter recovery times, allowing patients to return to normal activities sooner. These innovations not only broaden the eligible patient population by including higher-risk patients who may not tolerate extensive surgery but also enhance overall surgical precision and long-term outcomes, creating new market opportunities.
Restraints/Challenges
- High Cost of Prosthetic Heart Valves
The high cost associated with prosthetic heart valve procedures, particularly mechanical valves requiring lifelong anticoagulation therapy, presents a significant barrier to adoption, particularly in lower-income regions. The expense not only includes the initial implantation procedure but also ongoing medical management and monitoring. This financial burden limits access to prosthetic heart valve treatments for patients in regions with limited healthcare resources or inadequate insurance coverage, challenging the market growth.
- Risk of Complications of Surgeries
Prosthetic heart valve replacement surgeries carry inherent risks of complications such as valve thrombosis, infection, and structural deterioration over time. These potential complications necessitate meticulous patient selection, thorough pre-operative evaluation, and vigilant post-operative care to minimize risks and ensure optimal outcomes. The complexity of managing these risks can deter some patients and healthcare providers from choosing valve replacement surgery as a treatment option.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Prosthetic Heart Valve Market Scope
The market is segmented on the basis of type, product, technology, and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Transcatheter Heart Valve
- Tissue Heart Valve
- Mechanical Heart Valve
Product
- Repair Products
- Mitral Valve Repair Devices
- Tricuspid Valve Repair Devices
Technology
- Biological Valve
- Decellularized Valve
End Use
- Hospitals
- Ambulatory Surgical Centres
- Specialty Clinics
- Others
Prosthetic Heart Valve Market Regional Analysis
The market is analyzed and market size insights and trends are provided by country, type, product, technology, and end use as referenced above.
The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the market due to advanced healthcare infrastructure, strong research and development capabilities, and widespread integration of cutting-edge medical technologies within the Prosthetic Heart Valve Market. Leading manufacturers significantly enhance production capacities on a global scale.
Asia-Pacific is expected to witness significant growth during the forecast period due to the introduction of innovative products incorporating technical advancements, increasing demand for minimally invasive devices, and rising incidence of cardiac valve disorders. The expanding populations and economies of countries like India and China are expected to further bolster this growth trajectory.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Prosthetic Heart Valve Market Share
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- Abbott (U.S.)
- Medtronic (U.S.)
- Boston Scientific Corporation (U.S.)
- Edwards Lifesciences Corporation (U.S.)
- LivaNova PLC (U.K.)
- Cryolife, Inc. (U.S.)
- Lepu Medical Technology (Beijing) Co., Ltd. (China)
- Braile Biomédica (Brazil)
- SYMETIS (Switzerland)
- JenaValve (Germany)
- Colibri Heart Valve (U.S.)
- Cardiac Dimensions Inc. (U.S.)
- Cardiosolutions, Inc. (U.S.)
- Medtentia AB (Sweden)
- MitralSolutions, Inc. (U.S.)
- On-X Life Technologies, Inc. (U.S.)
- Sadra Medical, Inc. (U.S.)
- Sorin S.p.A. (Italy)
- St. Jude Medical, Inc. (U.S.)
- ValveXchange, Inc. (U.S.)
Latest Developments in Prosthetic Heart Valve Market
- In February 2024, Edwards Lifesciences Corporation introduced the EVOQUE tricuspid valve replacement system as the first transcatheter therapy approved by the U.S. Food and Drug Administration (FDA) for treating tricuspid regurgitation (TR). The system is indicated to improve health status in patients with severe symptomatic TR despite optimal medical therapy (OMT), when replacement of the tricuspid valve is considered appropriate by a heart team
- In March 2023, Abbott announced FDA approval for its Epic Max stented tissue valve to address aortic regurgitation or stenosis. The Epic Max features an optimized design aimed at enhancing blood flow through the valve, further solidifying its efficacy in treating patients with aortic valve disorders Prosthetic Heart Valve Market Scope
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